L.A. Feds Indict Two Realty Agents, Two Appraisers In $40+ Million Loan Fraud
The Los Angeles Times reports:
- "Two high-profile Beverly Hills real estate agents and two licensed appraisers were indicted Thursday on charges of joining in a sophisticated scheme that lenders said cost them more than $40 million in fraudulent loans for homes in some of Southern California's most expensive neighborhoods. Joseph Babajian and Kyle Grasso, agents with Prudential California Realty, along with appraisers Lila Rizk of Trabuco Canyon and Scott Robinson of Dana Point, were each indicted on multiple counts of conspiracy, bank fraud and loan fraud. [...] Babajian and Grasso are also charged with money laundering."
For more, see Brokers to Westside elite accused of fraud
For the L.A. Times follow-up story, see Two Beverly Hills agents suspended by brokerage.
Unfortunately, Part 2 of the indictment is a little too large for me to upload on this humble blog of limited resources. If you want Part 1 & 2, you can drop me an e-mail at HomeEquityTheft@yahoo.com and I'll be glad to send it to you (Be sure to put the words "U.S. vs. Babajian, et al - Part 2" in the subject line).
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